Zacks Investment Research upgraded shares of Ternium S.A. (NYSE:TX) from a hold rating to a buy rating in a research note published on Saturday morning. The brokerage currently has $29.00 price objective on the basic materials company’s stock.
According to Zacks, “Ternium is the leading producer of flat and long steel products of Latin America and consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. It create value with our customers, jointly improving competitiveness and productivity, through a highly efficient industrial and technological base and a global commercial network. “
A number of other research firms have also recently issued reports on TX. HSBC Holdings plc upgraded shares of Ternium from a hold rating to a buy rating and lifted their target price for the company from $25.00 to $31.00 in a research note on Thursday, February 23rd. Berenberg Bank reiterated a buy rating and issued a $30.50 target price on shares of Ternium in a research note on Sunday, February 19th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Ternium currently has an average rating of Buy and an average price target of $28.80.
Ternium (NYSE TX) opened at 25.33 on Friday. Ternium has a one year low of $17.63 and a one year high of $28.04. The company has a 50-day moving average price of $25.42 and a 200-day moving average price of $25.07. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 6.52 and a beta of 1.06.
Ternium (NYSE:TX) last posted its earnings results on Tuesday, April 25th. The basic materials company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.52. Ternium had a net margin of 10.37% and a return on equity of 15.33%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. Ternium’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Ternium will post $3.13 EPS for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oldfield Partners LLP boosted its position in Ternium by 46.5% in the first quarter. Oldfield Partners LLP now owns 2,314,439 shares of the basic materials company’s stock worth $41,614,000 after buying an additional 735,110 shares during the period. Pictet Asset Management Ltd. raised its stake in shares of Ternium by 4.4% in the first quarter. Pictet Asset Management Ltd. now owns 1,205,954 shares of the basic materials company’s stock worth $31,499,000 after buying an additional 50,409 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Ternium by 28.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,205,900 shares of the basic materials company’s stock worth $29,122,000 after buying an additional 269,600 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Ternium by 2.7% in the first quarter. Russell Investments Group Ltd. now owns 735,915 shares of the basic materials company’s stock worth $19,224,000 after buying an additional 19,013 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Ternium by 18.7% in the first quarter. Wells Fargo & Company MN now owns 683,225 shares of the basic materials company’s stock worth $17,846,000 after buying an additional 107,420 shares in the last quarter. Institutional investors own 22.48% of the company’s stock.
Ternium Company Profile
Ternium SA is a producer of steel products. The Company produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers, steel processors or end users. The Company operates through two segments: Steel and Mining. The Steel segment includes the sales of steel products and the Mining segment includes the sales of iron ore products, which are primarily inter-company.
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